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• GBP/AUD initially dipped on Friday but recovered some of the ground buying demand continued near 1.8400 level.
• The pair hit daily low at 1.8404, but recovered back , it was last up0.02% at 1.8493.
• Technical signals are bullishas RSI is at 56, daily momentum studies 5,9,21 DMA are trending north.
• Immediate resistance is located at 1.8540(Daily high ), any close above will push the pair towards 1.8579 (5DMA).
• Strong support is seen at 1.8404 (38.2%fib) and break below could take the pair towards 1.9237 (50%fib).
Recommendation: Good to buy around 1.8480 with stop loss of 1.8400 and target price of 1.8560
